Tuesday, September 1, 2015

Economic News , Data & Views ( September 1 , 2015 ) - Around The Horn Of " Fortress Europe " Eurozone and EZ Data For today -- Country Specific News & Data For Spain , Greece , Poland , Netherlands , Ireland , UK , Germany ...... Refugee situation devouring soul of Europe as fractures between nations appear as fast as refugees ......

Evening wrap......


Asia.....







Bloomberg - China Hedge Funds Face Worst Month in 16 Years After Carnage

















Photos: Protests against Malaysia’s leader—including a predecessor who helped put him in power











BREAKING: 50 China brokerages will jointly contribute 100 bln RMB capital to gov margin finance agency to start "new round of market rescue"






New round of capital contributions by 50 firms came after CSRC meeting Saturday as regulator urge sec industry to be united to stabilize mkt









Europe.....




In Kiev soldiers back from the front are rioting against the government









2 new buzzwords for








First Private School to Close in Greece After Imposition of 23% Value Added Tax








Ruble down in tandem w/ . Plunges 4.5% as Brent Crude crashes almost 10%.














Pulse poll for Action 24 SYRIZA 27.5% ΝD 26.5 G Dawn 6.5 Potami 5.5 ΚΚΕ 5.5 PASOK 5.5 Popular Unity 4.5 Cent Union 3 Ind Greeks 2.5






Third Greek Bailout Suddenly In Jeopardy: Creditors Warn Cash May Be Delayed If Elections Don't Go As Desired







Unemployment from 2008 to 2014 Greece: 7.8% to 26.5% Spain: 11.3% to 24.5% Cyprus: 3.7% to 16% Portugal: 8.8% to 14% France: 7.4% to 10.3%






Ukrainian prosecutors qualify riots near as terrorist attack








Sept 10: debate with all political leaders Sept 14: fight-off between Tsipras & Meimarakis









Morning Tweets....




Europe......





Eurozone unemployment drops to 3.5-year low via







's Rajoy says Euro Area mus discuss fiscal union. (BBG)








Angela Merkel calls on Catalonia to respect territorial sovereignty agreements











's de Guindos: Spain may return to 2007/2008 income level in 2016. IMF not so confident as chart highlights.


































Euro area unemployment falls from 11.1% in June to 10.9% in July, lowest since Feb 2012








No all gloom and doom: Youth unemployment drops to 21.9%, lowest level since Oct2011.


















Law and Justice Party (PiS, centre-right, ), is ahead in polls for Polish parl elections







Carry trade currencies and strengthen vs Dollar on haven demand.











Dutch campaign for referendum on EU-UKr assoc treat close to 100K out of 300K signatures, VVD won't respect outcome










's Rajoy says , must set up refugee reception centers. Says fair and just distribution of refugees is right. (BBG)










Changes at the top of the EU Commission: Alexander Italianer takes over from Catherine Day as Secretary-General









Lack of new orders & sharp drop in production lead to weak PMI in Aug.













Spain, with an unemployment rate of 22.2% in July, continues to lead the EU - it just seems q exceeds Greece, of which there are data for May alone: ​​25%











My interview with Bloomberg TV this morning: Counterproductive to force countries to take in refugees









Guess what: there's only three EU countries ↑ Where the unemployment rate in July: Finland (to 9.7%), France (to 10.4%) & Austria (to 5.8%)








Suspension of foreclosures extended by one month until Sep 30 (via )










Head of EU asylum agency : "Let refugees stay in Greece...Less delay in processing asylum there than in Germany"










*GREECE EXTENDS SHORT-SELLING BAN TO SEPT. 30: REGULATOR








U.K. AUG. MANUFACTURING PMI FALLS TO 51.5; FORECAST 52









Aug Manufacturing PMI +8.9 points to 39.1 from 30.2 in Jul (Markit).







AROUND 1,000 MIGRANTS WAITING AT CLOSED BUDAPEST RAILWAY STATION, SHOUTING "GERMANY, GERMANY" - REUTERS REPORTER







Scary Sept: 's Dax breaks below 10k again.









stock market -21.7% in Aug, banks -68.4%.








Ireland's Manufacturing PMI hit 18 month low in August. I'm expecting bad UK number at 9:30 also.










*MOSCOVICI SEES NO CONSENSUS FOR HAIRCUT ON GREEK DEBT -GREEK DEBT LEVEL WILL HAVE TO BE DEALT WITH IN TIME







FRANCE AUG. MANUFACTURING PMI FALLS TO 48.3; PRELIM. 48.6









German FinMin Schäuble: Deeper integration must follow right sequence. (BBG)









Markit/BME Manufacturing PMI hits 16-month high. Aug F: 53.3 (est. 53.2; prev. 53.2) /via















*MOSCOVICI SAYS GREEK ELECTIONS WERE PROBABLY NECESSARY








Markit/ADACI Manufacturing PMI Aug: 53.8 (est. 55.0; prev. 55.3) /via












Spain Jan-July social security deficit in 2015 double the 2014 equivalent. Things steadily getting worse.








| ND's Meimarakis says plans to "re-discuss" MoU with creditors if he wins elections. /via | OMG...


















"If Europe fails on refugees, it won't be the Europe we wished for" Merkel on Schengen et c.












20,000 march in after truck tragedy












HUNGARY CLOSES BUDAPEST'S MAIN EASTERN RAILWAY STATION, NO TRAINS DEPARTING OR ARRIVING, HUNDREDS OF MIGRANTS WAITING









Refugee crisis is a pan-European problem










Constant flow of refugees proves overwhelming for Aegean islands










More than 1,000 refugees rescued in a single day, Greek coast guard says














On migrant crisis Merkel says 'the current rules are clearly not being practised' and says the answer is a common European asylum policy









Spain resists EU pressure to take in 6,000 asylum seekers: government says it is "saturated"










Merkel: Without a fair distribution of refugees, future of Schengen will be on the agenda